Bihar Sponge Iron files complaint over cheque dishonor
Bihar Sponge Iron Ltd filed a complaint (Case No. 461 of 2026) under the Negotiable Instruments Act against Mr. Manoj Kumar Agarwal & Ors. for cheque dishonor. The case is before the Sub-Divisional Judicial Magistrate in Chandil.
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Bihar Sponge Iron Ltd has initiated legal proceedings against Mr. Manoj Kumar Agarwal & Ors. following the dishonor of cheques issued to discharge liabilities towards the company. The complaint, filed under Section 138 read with Section 142 of the Negotiable Instruments Act, 1881, is currently pending before the court of the Sub-Divisional Judicial Magistrate at Chandil, Seraikela-Kharsawan.
The case, registered as Complaint Case No. 461 of 2026, addresses the financial default involving the dishonored instruments. The company disclosed this information to the exchange in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Legal Proceedings
The filing specifically targets the individuals responsible for the dishonored cheques. The matter has been submitted to the judicial magistrate's court in Chandil as part of the company's efforts to recover the dues.
| Case Detail | Information |
|---|---|
| Complaint Case No. | 461 of 2026 |
| Sections Invoked | Section 138 read with Section 142 of the Negotiable Instruments Act, 1881 |
| Court | Sub-Divisional Judicial Magistrate, Chandil, Seraikela-Kharsawan |
| Accused | Mr. Manoj Kumar Agarwal & Ors. |
The disclosure was submitted to BSE Limited on July 21, 2026, by Vimal Prasad Gupta, the Company Secretary & Compliance Officer.
Historical Stock Returns for Bihar Sponge Iron
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.44% | -1.55% | -2.01% | +12.80% | -25.35% | +32.33% |
What is the estimated financial impact of this default on Bihar Sponge Iron Ltd's current liquidity position?
How will the prolonged legal proceedings affect the company's ability to recover these dues in the upcoming fiscal year?
Does the company have additional exposure to Mr. Manoj Kumar Agarwal & Ors. beyond the dishonored cheques?
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